Home / News Draslovka Announces its 2023 Full-Year Results

Best-ever year for Sodium Cyanide volume sales
Strong sales of licensing of proprietary Glycine Leaching Technology

Draslovka a.s (‘Draslovka’ or the ‘Company’), a provider of sustainability-led technologies, reagents and services for mining and the energy transition, announces its financial results for the year ended 31 December 2023.

Financial highlights

- Revenue of US$462.9 million (2022: US$468  million) driven by strong sales growth in core mining solutions business
  1% year-on-year decline in revenue the result of passthrough of lower raw material prices to customers

- EBITDA of US$74.8 million (2022: US$77.3  million)
Supported by strong sales of technology licenses
 

Operational highlights

- Execution of a number of commercial license agreements for Draslovka’s proprietary Glycine Leaching Technology (‘GLT’)

Barrick to commence commercial use of gold leaching technology, GlyCat™ (GlyCat), at its Buylanhulu Mine in Tanzania and strategic partnership with Draslovka will include a broader testing programme in 2024 that spans multiple mining sites

Commercial heap leach use of GlyCat at Bayan Airag’s gold mine in Mongolia

Partnership with Jubilee Metals to use base metal leaching technology, GlyLeach™ (GlyLeach), for copper tailings in Zambia

- Consolidation of Draslovka Agricultural Solutions into a stand-alone business under the INTRESO brand to drive growth and the roll out of next-generation sustainable fumigants

Sustainability highlights

- Conducted first assessment of climate-related risks and opportunities aligned to the Task Force on Climate-Related Disclosures

- Began reporting on progress against key performance indicators, including Scope 1 and Scope 2 emissions, which lays the foundation for further emission reductions, target setting and data gathering

- Commissioned research by leading mining industry analysts Skarn Associates, which confirms GlyCat reduces carbon emissions by 36% per ounce of gold produced, while reducing sodium cyanide consumption in the processing by up to 80%

Pavel Bruzek, CEO of Draslovka, commented:
“2023 was a year marked by significant progress in our core mining solutions business, driven by the commercialisation of our cutting-edge GLT. Both our successful partnerships with leading miners and the findings of the research conducted by Skarn Associates reaffirm the significant strengths of our solutions. I am confident GLT has the power to transform the mining industry.

“As we look ahead, we remain committed to building on this year’s success and contribute to a more sustainable mining industry and, ultimately, a better world. 

“I would like to thank the tireless efforts and loyalty of our employees and partners, all of whom have made this year’s success possible.”
 

Outlook
Draslovka expects the 2024 raw material market to stabilise and sees operations returning to pre-crisis (pre-2022) levels for the Company's core products. We anticipate GLT licensing representing a future growth opportunity that could surpass current core business EBITDA performance in the medium to long term.

 
Financial performance